Port of Gothenburg to use €146M funding for infrastructure works and dredging

The European Commission has approved, under EU State Aid rules, a €146 million (SEK 1,7 billion) Swedish measure to support infrastructure works and dredging in and around the Port of Gothenburg.

Photo courtesy of the Port of Gothenburg

The measure is aimed at increasing maritime safety and benefiting the economic activity of the port. The total investment costs amount to €371 million (SEK 4,3 billion) and will be equally split between the Swedish state and the port authority, Göteborgs Hamn AB.

Out of the €185 million (SEK 2,15 billion) provided by the Swedish state, the aid amounts to €146 million (SEK 1,7 billion) and will take the form of a direct grant.

The aid will be used for waterway works in the port area and will thus mainly benefit the economic activity of the port. Therefore, this part of the State’s financing constitutes State aid.

The remainder of around €40 million (SEK 459 million) will be used to finance fairway marking and dredging which will contribute to the fluidity and safety of traffic in the fairway.

The infrastructure works for enhancing the quay facilities and the related dredging, which amount to €185 million (SEK 2,15 billion) will be financed by the port authority through a market conform loan.